TNT Conference Call
Friday, July 12, 2024
Tony’s Monologue: They told us Thursday and it didn’t happen on Thursday. It is Friday and today is a good day. It is always a good day because after the markets close anything could happen. Things are supposed to change in Iraq on the14th and that is what Sudani is telling the citizens. Tony does not know at what time on the 14th it could happen. Sudani is talking about the new currency this weekend. That would be on Sunday. Some really good information from one of Tony’s sources is saying that the gazette has been published. Gazette number 4781 is in print and 4783 is in print. 4782 was filed electronically but no one has seen it in hard copy. This is because the budget and the rate is in it, and it has not been shown to the public. It is exactly what we were told, and it was done electronically. The new currency will be out on Sunday and the problem with the exchange rate should be resolved by Sunday. They have been trying to do the rv every night but due to an internal audit that didn’t come out right, it didn’t happen. They will do this up to the 14th. Wealth managers have called people and told them to watch their accounts because it will go live today. They said that yesterday, but it didn’t go. Everyone is excited, the banks are excited, and the banks have their people scheduled to work this weekend. Everyone is waiting on the UST and the agencies are saying they are ready to go. Everyone is looking for it this weekend, if not tonight our final night. A lot of you know more about how a bank works than the person you are going to be sitting across the table from at an exchange. Things have changed during this process; you might have to explain it to some of them because it will be things they have never seen before. An example would be that they might try to charge you 10 or 15% to exchange but that is not going to happen on a 500 million dollar exchange, and you should not do it. If you go to the teller, yes. Tony is hearing there will be no fees at our exchange. If they try to do that, walk out of the bank. The interest rates at banks are offering 4, 5, and 6% a year for a normal account. What Tony is hearing is that our contract will be 20% a year for the contract period. This is coming from the people doing the paperwork/exchanges. They are competing with so many people and the IMF that will pay you this type of money per month. The strategy Tony wants to share to double or triple your money will be given out after the rv has happened. This will apply to those that have millions of dollars from the exchange. Some of the three letter agencies think it will happen today but are scheduled for the whole weekend, just in case. Tony thinks it will happen tomorrow so the procedures and everything is in the system before they do anything on Sunday. We will see.
Q & A:
- If we put 50% aside for taxes and the banks want 50%, will that be 50% of what wasn’t set aside for taxes? Years ago, we said put aside 50% for taxes. Now we are hearing that this will not be taxed, and Tony is not worried about it. If it is taxed, you can pay quarterly taxes on it throughout the year. Use your money’s money to make payments or make arrangements with the IRS to set up payments monthly.
- Will the rate on the dinar start dropping after the rv or go up? The rate should go up once investors and other people start getting involved with it. There are stop gaps to keep it from rising too fast or dropping too fast. We won’t know how quickly it will move.
- Will this really happen on Sunday? That is what Iraq is saying with them making changes on Sunday. They have been trying to do this every night. Again, they will attempt it every night through the 14th.
- Do we put everything into a separate trust? As per Ray, each item would go into a separate complex trust (i.e. boat, house, truck, etc.….). How longer can Iraq keep dragging this out with all the glitches we keep seeing? Until it comes out. There is someone always fighting this, and it will keep going on until Sudani wins.
- Have things been resolved after they had their meeting last week about the rate going haywire? By Sudani cutting out the exchangers last week it created a shortage in dollars. This caused the rate to go haywire. The exchangers didn’t like this and threatened to go on strike. He called them all in, explained what was going on, told them to hold on until the 14th, and they would make money.
- Have you heard from any of the currency dealers about it being cut off, or a change of rate? No, they have not received their two-hour notice about the rv.
- Does parliament still need to do their thing with the HCL? Again, from what Tony understands it is already done and it very well might come out when this happens. They just announced that 11 percent of the revenue for Iraq is not coming from oil. The HCL is oil. Did the US give them a deadline and when that would be? No, they were told if they didn’t act right or fail to do what they needed to, they would be under a new government.
- 20% annually for 3 years, is that the only thing they will do? No, someone was saying the 20% was for the 3- or 5-year period. This is not correct and not what the banks are saying. You will get 20% annually over 3 or 5 years. Tony knows someone getting 20% and 25% but there is a banker saying 30% for 5 years. Tony knows there is something higher being offered too.
- Will Alak or Sudani make the announcement of the change in rate? Alak has not been saying anything, CBI has not been given any detail or saying anything, and it has only been Sudani. On the 14th the only place for Iraqis to get dollars will be at the banks at the airport and exchange money when they are traveling. They are saying that there will be new currency and a new system on Sunday. Tony feels Sudani is the driving force behind this, and it is possible they might make a joint statement.
- What volume of money will need to get 30%? Tony doesn’t know and no one has told them. Every bank might be different with volume and probably start at 20%.
- What can we do to prevent any potential claw backs? Tony doesn’t know and the banks would be the place to ask. It also doesn’t make any sense that they are going to give out 100 million dollars rather than try to claw it back.
- What is the new Iraq currency? The new Iraq currency is the lower denominations. What we have that meets the seven criteria will still be accepted at the exchange. Are they just trying to put it through one time at night/day or are they trying multiple times? Tony doesn’t know if it is once or ten times and does not have a specific time. The key word there is “night.” Is Houston being hit by Beryl part of the delay? The server is in Houston, but they are probably not without power.
Wrap Up: Tony is hearing right now, if you have an SKR, this weekend or later tonight you should see a change in your account. It might not be money but should let you know if Sunday or Monday is a go. Let TNT know and Tony will tell you what it is all about. Ray won’t say goodbye today because no matter what, we will be talking again Sunday or Monday and the following ten days.